Tesla’s Q3 2022 earnings results have dropped and with it, the company saw a decent finish even if it missed revenue expectations. Elon Musk’s EV company made a lot of plays to be prepared for the final quarter of its fiscal year, as well as readying for the year after. In fact, Elon Musk shared on the accompanying conference call for the quarter that he believes Tesla has all the pieces in place to have a record quarter in Q4 2022.
Elon Musk shared his belief in a strong Q4 2022 for Tesla during the company’s Q3 2022 earnings results conference call on October 19, 2022. During the call, Musk and other Tesla leadership went over a number of topics in relation to Tesla’s current and future fiscal quarters. However, it was also during this call that Elon Musk shared that he believes the company is set up to have one of its best quarters ever. Citing the ramp up of vehicle manufacturing and delivery, as well as battery supply acquisition and assembly and Full Self-Driving on shipped Tesla vehicles, Musk opined that Tesla is set up for record results in its Q4 2022.
This is a bold forecast from Elon Musk for Tesla’s future, but it isn’t unwarranted. Tesla’s Q3 2022 fell short on revenue, but beat out EPS estimates. It also left Q3 2022 with $21.1 billion cash on hand, up $2.2 billion from its previous quarter. The company has moved to boost its production at Texas, Shanghai, and Germany Gigafactories while also shoring up its battery supply. With these in mind, Elon Musk is highly confident in the company finishing out its fiscal 2022 in a big way. In fact, Musk believes that Tesla could be valued at more than $4 trillion in the future based on the current trajectory and future plans for the company.
Elon Musk’s Q4 2022 predictions are bold to be sure. Tesla has continued to be a leading force in the electric vehicle market. That said, it will remain to be seen when the Q4 2022 dust settles if Musk is right about its possible record finish. Stay tuned for our other tech industry earnings results reporting over the next few weeks, right here at Shacknews.
TJ Denzer posted a new article, Elon Musk says Tesla (TSLA) is set up for record Q4 2022 results
He’s really gotta pump that stock to afford Twitter. Poor bastard.